The Occupy Wall St. protests have clearly gained momentum over the last two weeks spreading from Wall St. to other new protest sites in other large urban cities such as Los Angeles, San Francisco, Chicago, Boston, and Seattle (my home city). Because I still don’t understand the message of the protesters and their primary objective, I plan to spend a little time visiting the protesters in downtown Seattle asking them some questions. I plan to take some photos and video and then upload my exchange with them over here on this website.
I have still not seen any online manifesto from the Occupy Wall St. protesters. From an outside perspective, the Occupy Wall St. movement appears to lack cohesion and leadership.
The focus of their protest thus far seems to be centered around Wall St. and large banks/corporations. However, it is a well known fact that the financial dealings of Wall St. quite literally stretches over the entire globe. For example, large hedge funds and investment groups trade electronically each day on Wall St. and they are managed quite literally all over the globe, not just in New York City. I know that Seattle has hedge fund managers operating downtown.
However, it is true that Wall St. and New York City have a strong association with corporate and financial governance.
Targeting Wall St. as the epicenter of protest would have been appropriate during the financial crisis in 2008-2009 because the entire world during that period of time was quite literally focused on the greedy banking practices coming from Wall St. and the financial sector. Ignoring established loan regulations (down payment, good credit score, etc.) in favor of “get rich quick” profiting tactics (loaning to people with no down payment, no job, and poor credit) precipitated the U.S. housing crisis and ushered in the U.S. and global market crash.
A large Occupy Wall St. protest would have been fitting and even somewhat expected during the U.S. financial crash in 2008-2009. Why is it still needed today, nearly three years later in 2011? Am I missing something here?
I hope to find out the answer to those questions during the week ahead when I travel to downtown Seattle with my coffee in hand. I will let you know what I discover. Stay tuned.